Tuesday, April 30, 2013
The retail industry is currently facing the perfect storm for migrating from magnetic stripes to more secure EMV enabled smartcards. Europay, MasterCard & Visa (EMV), the global and interoperable standard for payments cards, was set nearly two decades ago. Payment networks and international retailers alike agree that EMV is one of the most effective security safeguards against fraud. And the U.S. currently accounts for a whopping 47% of global credit and debit card fraud, according to a 2011 report from The Nilson Report.